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Dealers will buy at (or slightly under spot), then re-sell at a substantial markup. The spread (+ any hedging they do) cushions them against averse price movements...

You can use your existing stock to hedge (Ie, if you just sourced 100 kooks at 35, you offload 100 kooks at 38) or use paper contracts... some brokers let you do this in as little as 500oz (silver) or 10oz (gold) sizes

Are you saying that speculation is manipulation? Is speculation is done using paper any different to speculation using physical? If you believe in a free market, then you cannot claim that speculation is bad.

I will very shortly have a PhD in finance.. Spent the last 3 years developing markets and derivatives some very exotic commodities

Those who hold short contracts untill maturity have to deliver silver, while those who hold longs till maturity take delivery of the silver. Futures trading is a zero-sum game: there are only as many shorts as there are longs. Likewise, there would be as many short holders to maturity, as there...

Dont forget the Hungarian Pengo, Serbian Dinar, Polish Zloty, and of course (my favorite) the Weimar republic Rechimarks I think the Hungarians win one the actual inflation rate. Prices doubled every 15 hours. When the peng was replaced in August 1946 by the forint, the total value of all...

What? I've never been to Belarus... :P

Banks tend to talk their books. I bet NAB is short gold and DB is long...

I disagree.. look at the 150 year chart of the oil price in USD http://chartsbin.com/view/oau Sure, there was a spike early on to $8/barrel, but between 1879 and 1972, oil was $1-$2/barrel. Equating $1 usd to 0.77oz silver (us dollar coin), then oil was trading at 0.77oz - 1.54 oz/barrel. today...

Relative value with respect to paper, I agree... but relative value wrt hard commodiites, I'm yet to be convinced. Food, energy and industrial metals all have the same (if not more) upwards price pressures as silver does.... We actually need food, and some form of fuel to survive and keep...

And thats the flaw in the argument - silver has NOT maintained its PPP, as both improved mining methods and the discovery of massive new silver deposits has increased the supply of silver quite substantially in 2000 years

The pre decimal standard was also tri-metallic. Half Ps and Pennies were copper, 3ps - crowns were silver, 1/2 sovs and up were gold

Exactly... all bi/tri/100 metallic/whatever standards fail as soon as there is even a minute supply/demand imbalance, and given the ease of spreading information these days, the imbalance would be apparent very quickly, and result in a speculative run on one of the metals. An alternative is to...

Someone erasing evidence? The serial number has been conveniently disfigured by the house fire... http://www.ebay.com.au/itm/Palladium-PAMP-Suisse-Bullion-Bar-99-95-Free-Postage-/180669539814?pt=AU_Bullion&hash=item2a10be65e6

To be honest, I'm pretty glad the govvie is doing nothing... if they were as efficient with trying to 'manage' the resources boom, as they are with everything else they do... then we would probably be worse off than if they didnt touch anything... Its up to individuals to be proactive about...

Not to mention the nationalization of private property en masse (see post WWII eastern Europe for a good example). You can't hide a house... very easy to hide gold.

For all the wiring and pcbs.. Cruise missiles are built to never need maintenance, even after storage on board a destroyer out at sea for many years. Shuttles get fixed up every time they come back to base, while missiles never get touched till they are used. Also, as they are out at sea, they...

Well, then heres an idea: Buy a load of 1kg coins and sell them undercutting the overpriced bars on here... then either the price of bars will drop to reflect the new supply, or you'll score yourself a decent profit...

The problem with a redeemable standard is that what we now see as price volatility, turns into a redeemanbility volatility. So when confidence in the political/financial/etc.. system drops, rather than a price increase, we have a reedemabililty increases, and vice versa. And what is the get out...